Question 25. Jelly bean pic purchased an item of plant on 1 January 20X0 for $500,000. Its
Fantastic news! We've Found the answer you've been seeking!
Question:
Question 25. Jelly bean pic purchased an item of plant on 1 January 20X0 for $500,000. Its estimated useful lite s years and it was expected to have nil residual value. On 31 December 20X2, the plant was revalued upwards to $750,000 with no change to the estimated useful life. On 1 January 20X4 the plant was sold for $800,000.
What was the gain/loss on disposal to be recorded in the statement of profit or loss for the year ended 31 December 20X4?
Expert Answer:
Posted Date:
